Connect with us

Commercial

India’s Commercial Realty Industry Set To Have Massive Boost

Published

on

India’s Commercial Realty Industry Set To Have Massive Boost

Industry experts hail India’s commercial realty sector and predict that it will witness even more growth in the next few years

At the recently held Mint India Investment Summit 2019, there was a special segment called ‘Real Estate: Finally out of the woods?’ Real estate experts across the globe who participated in it unanimously agreed that the commercial realty industry in India will continue to grow more and more.

Ankur Gupta, MD & regional head, India real estate, Brookfield Asset Management spoke about how the company shared a warm relationship with India for several decades. “We have a large footprint in India but we still call ourselves a startup in the larger context of the Brookfield platform we have globally. Real estate houses the economy and the economy is doing well,” Ankur added.

The Canada-based investment company considers India to be one of its most important markets. It aims to not only multiply its office market in the country but also wishes to add newer real estate segments like rental housing and industrial housing to its portfolio.

V Hari Krishna, director – real estate investments, India, CPPIB (Canada Pension Plan Investment Board) also showered praises upon India. Hari stated that since India is one of the largest economies across the globe, CPPIB was eyeing it since 2010. However, he was also quick to point out certain drawbacks within India’s real estate industry like the dearth of good quality real estate assets. CPPIB aimed to have solid collaborations with the industry.

The growth of India’s commercial realty industry was attributed by Rajesh Agarwal, chief executive officer and managing director, Shapoorji Pallonji Investment Advisors to the introduction of long-term investors and their evolvement which started in 2009. He added that commercial realty is more lucrative than residential realty in India. There is a huge difference in the kind of investors for both sectors.

Other speakers at the event included Vinod Rohira, managing director, (commercial real estate and REIT), K Raheja Corp, Chintan Patel, partner – deal advisory, (real estate and hospitality), KPMG in India, Vikas Chimakurthy, chief executive officer, Kotak Realty Fund and Yogesh Singh, Partner at law firm Trilegal.

 

Source: livemint.com

ALSO READ: Commercial Property Is HNIs’ Investment Destination

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

© 2018 RealtyNXT | All Rights Reserved